Commodities - The Coming Bull Market Message Board

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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (361)	6/27/2001 1:34:08 PM
From: craig crawford	of 1643

Miners squeezed by metal price drop theage.com.au By BARRY FitzGERALD Thursday 28 June 2001 The share price resilience of Australia's leading metals producers is to be put to the test in the wake of a continued slide in base metals prices. The price declines for base metals could well trigger the need by the leading miners (Rio Tinto, BHP, WMC and MIM) to issue profit warnings soon for the December-half, given that the key commodities of copper (all four) and aluminium (not MIM) are now struggling. ..................................................................................... With the notable exception of the zinc producer Pasminco, the share price of the metals producers have been remarkably solid despite serious price corrections in recent weeks in key base metals prices. ....................................................................... Rio, BHP, WMC and MIM are all highly leveraged to copper price movements. They have not issued similar commodity price forecast downgrades, let alone the impact on their December-half earnings if the lower price holds.

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